Found 24 Matching Items; Displaying 1 - 10.
About Form 8880, Credit for Qualified Retirement Savings Contributions
Information about Form 8880, Credit for Qualified Retirement Savings Contributions, including recent updates, related forms and instructions on how to file. Form 8880 is used by individuals to figure the amount, if any, of their retirement savings contributions credit.
General Information
Individuals
Retirement Plans FAQs regarding SIMPLE IRA Plans
Get answers to commonly asked questions about Savings Incentive Match Plans for Employees (SIMPLE IRA Plans).
General Information
Individuals, Administrators
IRAs are one tool in the retirement planning toolbox
Tax Tip 2022-107, July 14, 2022 — There are many ways people plan for retirement. Individual Retirement Arrangements, or IRAs, are a common one.
General Information
Individuals
About Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs)
Information about Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), including recent updates and related forms. Publication 590-B discusses distributions from both traditional and Roth individual retirement arrangements (IRA).
General Information
Individuals
About Form 8606, Nondeductible IRAs
Information about Form 8606, Nondeductible IRAs, including recent updates, related forms, and instructions on how to file. Form 8606 is used to report certain contributions and distributions to/from specific types of IRAs.
General Information
Individuals
Taxpayers should review the 401(k) and IRA limit increases for 2023
Tax Tip 2022-178, November 21, 2022 — The amount individuals can contribute to their 401(k) plans in 2023 will increase to $22,500 - up from $20,500 for 2022. The income ranges for determining eligibility to make deductible contributions to traditional IRAs, contribute to Roth IRAs, and claim the Saver's Credit will also all increase for 2023.
General Information
Individuals
Individual retirement accounts can be important tools in retirement planning
Tax Tip 2023-116, Sept. 28, 2023 — It is never too early to begin planning for retirement. Individual retirement accounts provide tax incentives for people to make investments that can provide financial security when they retire. These accounts can be with a bank or other financial institution, a life insurance company, mutual fund or stockbroker.
General Information
Individuals, Tax Professionals, Businesses
Seniors can reduce their tax burden by donating to charity through their IRA
Tax Tip 2022-171, November 8, 2022 — In most cases, distributions from a traditional Individual Retirement Account are taxable in the year the account owner receives them but there are some exceptions. A qualified charitable distribution is one of the few exceptions.
General Information
Individuals, Tax Professionals
About Form 8889, Health Savings Accounts (HSAs)
Information about Form 8889, Health Savings Accounts (HSAs), including recent updates, related forms and instructions on how to file. Form 8889 is used to report activity in a health savings account.
General Information
Individuals
Important info for people considering making early withdraws from retirement funds
COVID Tax Tip 2022-162, October 24, 2022 — No matter how much people plan, unexpected events occur. Often, those events result in unplanned expenses. To cover these costs sometimes people, withdraw funds from their retirement savings early.
General Information
Individuals, Tax Professionals